Indonesian President Inaugurates $4 Billion Petrochemical Plant by Lotte Chemical

Indonesian President Prabowo Subianto officially opened a $4 billion petrochemical production facility in Jakarta. The plant, constructed by South Korea’s Lotte Chemical, is projected to produce 1 million metric tons of ethylene annually. This marks a significant milestone for Indonesia, as it is the first naphtha cracker built in the country in three decades, as confirmed by the Energy and Mineral Resources Ministry of Indonesia. During the inauguration ceremony, President Prabowo expressed the government’s commitment to fostering mutually beneficial relationships with foreign investors in the nation.